US personal spending rises 0.5% in June, more than estimates

By Ovunc Kutlu

ISTANBUL (AA) - Americans' personal spending increased 0.5% in June, more than market estimates, according to official figures released Friday.

Personal consumption expenditures increased $100.4 billion last month, according to data from the Commerce Department's Bureau of Economic Analysis.

The market estimates for the figure was to show an increase of 0.4%.

Personal consumption expenditures for May was revised upward to a gain of 0.2%, from an increase of 0.1%.

The $100.4 billion increase in current-dollar personal consumption expenditures in June reflected an increase of $51.2 billion in spending for services and an increase of $49.1 billion in spending for goods, according to the Bureau of Economic Analysis.

Personal outlays, which include consumption expenditures, personal interest payments and current transfer payments, increased $109.4 billion in June, it added.

While personal saving was $862.4 billion in June, the personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.3%, it noted.